Market Insights
The global electric traction motor market worldwide was valued at US$ 12.9 billion in 2018 and is set to grow by 19.2 per cent in the forecast period.
The electric traction motor is driven by factors such as the high acceptance of the traction motors in the locomotives. The electric traction motors have an important role to play in the locomotive. They provide energy efficiency to electric rail vehicles. In addition, increasing investment in the rail sector and digitization in these sectors are fueling the growth of the electric traction motor market. On the other hand, fluctuations in the prices of raw materials are expected to restrict market growth.
Ongoing technological developments in the field of electric motors, promoting their adoption in battery-powered and hybrid vehicles. The growing demand for energy-efficient motors in the automotive sector is expected to boost demand for the electric traction motor market in the near future. In addition, the key players in the electric traction motor are more focused on developing new advanced and efficient products. For instance, in 2017, the Hyundai Rotem the Korean manufactures launched class 220 insulated heat-resistant electric traction motor to fulfill the growing demand for motors that are useful to operate in high temperatures in various industries.


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The global electric traction motor market is categorized into types, power ratios and end-users. Based on end-users, the market is further divided into rail and electric vehicles. Traction motor used across a number of rail applications, including locomotives, railroads, rapid transit vehicles, and others. The electrification of the railways is a key driver of the growth of the market for electric traction in the rail sector. Growing awareness of emission control and strict government regulation promote the growth of traction motors in railway applications.

Regionally, North America dominates the market for electric traction motor followed by Europe. The U.S. has the largest market share in the electric traction motor market in the North American region. Enhancements in rail infrastructure and technological advances in traction motors are primarily driving the growth of the electric traction motor market in the North American region. Growing investments in rail technology in Europe are contributing to the growth of the market.

Moreover, Asia Pacific is the fastest-growing region in the traction motor market due to increasing investment in the rail sector and the rapidly growing adoption of electric vehicles Some of the leading players in the electric traction motor market include Siemens Corp., General Electric, Skoda Electric, ABB, Weg SA, Toshiba Corporation, Benchmarking, CG Power, Traktionssystem.


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Key questions answered in this report
• What was the market size of electric traction motor in 2018 and forecast up to 2027?
• Which is the largest regional market for Railways electric traction motor applications?
• What are the major trends followed in electric traction motor market across different regions?
• Who are the key Electric Traction Motor companies leading the market?
• What are the key strategies adopted by the leading electric traction motor companies in market?

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Media citations:
Electric Traction Motor Market is set to grow with a CAGR of 19.2% during the forecast period from 2019 to 2027: https://hype.news/credence-research-us/electric-traction-motor-market-is-set-to-grow-with-a-cagr-of-192-during-the-forecast-period-from-2019-to-2027-k1rnqatq

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